The National Commodities and Derivatives Exchange December contract fell by a similar amount to 359.65 rupees. "Market arrvials of soybean from the new crop is good while demand for oils is not emerging despite the festival season," said a dealer from Indore, the hub of the country's soy trade.
Traders said about 500,000 soybean bags of 90 kg each were arriving everyday in the marketing yards across the main growing regions.
They said crushing for oil in the new season had already begun adding to the supplies and depressing prices.
But they expected soy prices to firm up once the crushed oil moves to consuming states like Uttar Pradesh and Rajasthan. India's soybean output this year is expected to be about 5.36 million tonnes, down from 5.85 million a year ago, according to the Central Organisation for Oil Industry and Trade.
Sugar futures fell with the start of sugarcane crushing by the mills in the new season in October and prospects of good sugar output during the year.
November sugar at the National Commodities & Derivatives Exchange (NCDEX) fell 12 rupees to 1820 rupees per 100 kg. "Sugar prices are down but should pick up in the coming days with more buying for festivals," one dealer said.
Gold futures were lower in line with a drop in international prices. December gold at MCX lost 25 rupees to 6,802 rupees per 10 grams. February gold fell 29 rupees to 6,824 rupees.
Gold headed lower in Asia on Monday as the dollar firmed against the euro, but dealers expect buying interest to resurface at lower levels and offer support at around $460 an ounce.
Spot gold fell to $464/464.80 in late afternoon trade from $466.50/467.25 last quoted in New York and London's on Friday afternoon fix at $462.85 an ounce.
Wheat futures were marginally down but traders expected them to firm up in the coming weeks with demand emerging in the northern states during the winter season.
India's southern states largely depend on the northern producing region for wheat. November wheat at the NCDEX fell 1.60 rupees to 822.20 rupees per 100 kg.
The December contract fell by a similar amount to 833.60 rupees. The Food Ministry said on September 1, India had 11.3 million tonnes of wheat and 7.07 million tonnes of rice.
Indians consume about 1.5 million tonnes of wheat a month but consumption increases in the north in the winter months, beginning November.